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Spotify Preps A Live-Music Offering
On the watchlist // Image by Kait Cunniff with DALL-E
Spotify is looking to get into livestreaming for concerts and music festivals.
Why It Hits: Over the past year, Spotify has made a big push into video, featuring music videos and video podcasts alongside its many audio offerings. Beyond boosting engagement and ad sales, doubling down on video makes the platform an even bigger competitor to Apple, YouTube, and Amazon.
Behind The Concerts: Spotify is growing into a one-stop shop for all things music.
The company is already in talks with concert promoters about licensing rights to broadcast music festivals — but was mum on exactly which ones.
Spotify began testing the feature last month with video from Dua Lipa’s concert in Mexico City, which reportedly drew 1.3 million streams on its first day on the service.
The move comes as Spotify has started giving superfans of select artists early access to concert tickets, similar to programs offered by Amex. Bloomberg reports that the company is paying Live Nation tens of millions of dollars for those rights.
Final Act: Spotify is entering an already crowded livestreaming lineup. YouTube’s Coachella broadcasts are a major draw, Hulu brings Bonnaroo into people’s living rooms, Netflix helped kick off BTS’ return, and Apple and Prime Video are known for high-profile one-off shows featuring artists like Lady Gaga and Kendrick Lamar. But given Spotify’s dominance in audio, it may be only a matter of time before the company lands splashy deals of its own to rival them.
Coming Soon: We wouldn’t be surprised if Spotify launched an exclusive tour series where tickets, attendance, and broadcasting are available only to Premium subscribers.
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Today’s email was written by David Vendrell.
Edited by Nick Comney. Polled and Copy-edited by Kait Cunniff.
Published by Darline Salazar.